The Saudi central bank and state pension funds have instructed their overseas asset managers to dispose of their Canadian equities, bonds and cash holdings "no matter the cost", according to the report. The loss will have a "negligible impact on our bottom line", Weeks said Tuesday.
Castellanos added the decision by Saudi Arabia is also a hit to the university's diversity, calling the Saudi students very important cohorts of the U of R.
It's not the first time Saudi Arabia has lashed out diplomatically over the Badawi case.
The kingdom will suspend educational exchange programmes with Canada and move Saudi scholarship recipients to other countries, Saudi-owned Al Arabiya reported on Monday. Saudi Arabia could potentially make up for those purchases by buying more materiel from the United States, for example - a move which would likely cut into Canadian defense industry profits.
Canada tweeted that it was "gravely concerned" about a new wave of arrests of women's-rights activists in the kingdom, which angered Saudi Arabia and prompted the country to retaliate with a series of diplomatic measures aimed at signaling its strength. "But we would encourage both governments to work out their issues together". "I think she has done a fantastic job at pointing out the obvious", Fuhr said.
Tensions between Canada and Saudi Arabia continued into Tuesday, with the Saudis announcing they are cutting all purchases of Canadian wheat and barley.
All Saudi Arabian students now studying in Canada will be transferred to other countries.
Saudia said it would be temporarily stopping inbound and outbound flights to Toronto Pearson International Airport - the only Canadian destination it serves - from August 13.
The Kingdom of Saudi Arabia has stopped all the scholarship, training and fellowship programs to Canada.
Dead fetus found on plane at LaGuardia Airport, reports say
A statement from LaGuardia Airport said flights at Terminal B may experience delays due to an "out of service aircraft". The fetus was found hours after Flight 1942 arrived Monday in New York City night from Charlotte, North Carolina.
A number of countries in the region have defended Saudi Arabia.
Critics of the Saudis claim Riyadh is trying to flex its muscles internationally and has overreacted to a comment Friday by Canada's leading foreign affairs agency, Global Affairs Canada.
Another source said Canada will be turning to its old ally the United Kingdom for help, which has appealed for calm. Saudi Arabia's sudden sharp response to criticism shows the limits of reforms by Saudi Arabia's 32-year-old Crown Prince Mohammed bin Salman, who runs its day-to-day government.
"Any further step from the Canadian side in that direction will be considered as acknowledgment of our right to interfere in Canadian domestic affairs", the Foreign Ministry said.
"We are always going to speak up for human rights, we are always going to speak up for women's rights and that is not going to change, " Freeland said in Vancouver.
Canada's previous Conservative government, which lost power to the Liberals in 2015, also had challenges with Riyadh over human rights.
The diplomatic row erupted after Canada tweeted about a recent arrest in Saudi Arabia.
Human rights groups and Canadian and other Western diplomats have made repeated calls for the release of Raif Badawi, whose wife received Canadian citizenship in July.